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An Ordinance of the Village of Romeoville, Will County, Illinois
Amending Ordinance No. 18-1456 Adopting Tax Increment Allocation Financing For the "Independence Boulevard" Tax Increment Finance District
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WHEREAS, it is desirable and for the best interests of the citizens of the Village of Romeoville, Illinois (the "Village"), for the Village to adopt tax increment allocation financing pursuant to the Tax Increment Allocation Redevelopment Act (65 ILCS 5/11-74.4-1 et seq.) (the "Act") for Additional Area to be included within the previously designated Independence Boulevard TIF; and
WHEREAS, the Village has heretofore approved a First Amendment to the Redevelopment Plan and Project (the "Plan" and "Project") for the Independence Boulevard TIF as required by the Act by passage of an ordinance and has heretofore designated a Redevelopment Project Area (the "Additional Area") described by Permanent Index Numbers in Exhibit A attached hereto as required by the Act by the passage of an ordinance and has otherwise complied with all other conditions precedent required by the Act.
NOW, THEREFORE, BE IT ORDAINED by the President and Board of Trustees of the Village of Romeoville, Will County, Illinois in the exercise of its home rule, statutory and other powers, as follows:
Section 1: Tax Increment Financing Adopted for Additional Area
Ordinance No. 18-1456 is hereby amended to adopt Tax Increment Allocation Financing to pay redevelopment project costs as defined in the Act and as set forth in the Plan and Project, together with its First Amendment within the Additional Area as described in Exhibit "A" attached hereto and incorporated herein as if set out in full by this reference. The street location (as near as practicable) for the Additional Area is described in Exhibit "B" attached hereto and incorporated herein as if set out in full by this reference. The map of the Area is depicted on Exhibit "C" attached hereto and incor...
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